Northcoders Group Plc · LSE:CODE
Northcoders — FY2023 Earnings Presentation
24 slides from Northcoders's earnings presentation, Apr 30, 2024
Slide 1: Northcoders Group plc 2023 Full Year Results
0 Northcoders Group PLC 2023 Full Year Results Northcoders Group plc 2023 Full Year Results 30 April 2024 northcodersgroup.com
Slide 2: The Northcoders Team
1 Northcoders Group PLC 2023 Full Year Results The Northcoders Team Presentation Team Other Board Members Amul Batra Joined 2016 Chief Partnerships Officer Chris Hill Charlotte Prior Joined 2018 Founder & Chief Executive Officer Chief Financial Officer Nick Parker Joined 2021 Angela Williams Joined
Slide 3: FY 2023 Highlights - Financial
2 Northcoders Group PLC 2023 Full Year Results FY 2023 Highlights Financial • Group revenue up to a record £7.1 million, increasing 27% from £5.6 million in FY22 driven by geographic expansion and entry into new disciplines • Gross profit increasing 13% to £4.4 million (FY22: £3.9 million) with a gr
Slide 4: FY 2023 Highlights - Operational
3 Northcoders Group PLC 2023 Full Year Results FY 2023 Highlights Operational • Record growth in numbers of individuals trained, increasing to 2,852 (FY22: 1,685) • Relationship with UK Government continues to strengthen, achieving a £4.5 million bid in H2-2023 with a further £10 million bid win in
Slide 5: Business Overview
4 Northcoders Group PLC 2023 Full Year Results Business Overview
Slide 6: Business Overview
5 Northcoders Group PLC 2023 Full Year Results Business Overview We have built up a network of 450+ Founded in December 2015, our mission is corporate hiring partners We now have 4 different full-time courses available for Students; Software, Data, to close the digital skills gap whilst creating Clo
Slide 7: Our revenue is funded by Consumers, Corporates and the UK Government
6 Northcoders Group PLC 2023 Full Year Results Business Overview Our revenue is funded by, Consumers (upfront and via student loans), Corporates and the UK Government
Slide 8: B2C Training Bootcamp – Growth Opportunities & Drivers
7 Northcoders Group PLC 2023 Full Year Results B2C Training Bootcamp – Growth Opportunities & Drivers • Diversification of technical £12.0 disciplines £10.0 • Graduate CPD courses & £8.0 frameworks • Part-Time course offering to launch £M £6.0 this summer £4.0 £2.0 • Geographical expansion outside o
Slide 9: Focused curriculum, 8 years of community
8 Northcoders Group PLC 2023 Full Year Results Quality above quantity = exceptional reputation Focused curriculum 8 years of Market leader community Training Bootcamp Job Flexible learning options Buyer Power Buyer Power USPs placement support There are people who have a There are people who have a
Slide 10: Business solutions: Incubate
9 Northcoders Group PLC 2023 Full Year Results Business solutions Incubate (New name and brand TBA) Through Incubate, we support organisations with teams of diverse onshore technologists required to overcome their tech challenges. The model provides high quality people, dedicated mentorship, as well
Slide 11: Business Solutions USPs
11 Northcoders Group PLC 2023 Full Year Results Top 1% of Bootcamp applicants Try before you buy deployed Diverse teams On-shore solution Business No recruitment Solutions No “hand-holding” Buyer Power Buyer Power fees USPs required by client There are people who have a There are people who have a F
Slide 12: NCore & JS Basics
12 Northcoders Group PLC 2023 Full Year Results NCore & JS Basics Our in-house Core Teaching Platform and data-first Learner management systems
Slide 13: Competitive Landscape
13 Northcoders Group PLC 2023 Full Year Results Competitive Landscape Training Bootcamps Business Solutions General Assembly App Academy FDM Accenture Flatiron School Hack Reactor QA Kubrick Le Wagon Makers Academy Sparta Global Ten10
Slide 14: Market Conditions
14 Northcoders Northcoders Group Group PLCPLC 2022 Full Year Results 2023 Full Year Results Market Conditions ‘After 23 consecutive months ‘The demand for software ‘Despite facing a challenging of contraction or no growth, IT financial climate, Small and employment ticked up engineers continues Medi
Slide 15: Financial Review
15 Northcoders Group PLC 2023 Full Year Results Financial Review northcodersgroup.com
Slide 16: Financial Performance to Date
16 Northcoders Group PLC 2023 Full Year Results Financial Performance to Date Revenue £8,000,000 £7,000,000 £6,000,000 £5,000,000 Record revenues, increasing 238% £4,000,000 £3,000,000 in 4 years £2,000,000 £1,000,000 £0 2019 2020 2021 2022 2023 Slide 10 – • “double consultant headcount”, is this th
Slide 17: Income statement
17 Northcoders Group PLC 2023 Full Year Results Income statement Year ended Year ended 31 December 2023 31 December 2022 £ £ Revenue 7,102,319 5,598,863 Gross profit 4,443,669 3,941,925 Gross margin 63% 70% Adjusted EBITDA* 79,369 907,633 Operating (loss)/profit (1,076,583) 447,338 Profit/(loss) bef
Slide 18: Statement of cash flows
18 Northcoders Group PLC 2023 Full Year Results Statement of cash flows Year ended Year ended 31 December 2023 31 December 2022 £ £ Cash flows from operating activities: (483,317) 907,633 Changes in working capital: (Increase)/decrease in trade & other receivables 891,421 (1,435,445) Increase/ (Decr
Slide 19: Statement of financial position
19 Northcoders Group PLC 2023 Full Year Results Statement of financial position 31 December 2023 31 December 2022 £ £ Non current assets 3,533,309 1,619,409 Current assets 3,730,859 5,716,514 Total assets 7,264,168 7,335,923 Current Liabilities (1,818,179) (1,258,424) Net current assets/(liabilities
Slide 20: Non-financial results
20 Northcoders Group PLC 2023 Full Year Results Non-financial results • Northcoders received 13,878 applications in 2023 (FY22: 8,470 applications) • 38% of students taught in the year were non-university educated • The average starting salary that graduates went on to earn increased to £29,303 • Pl
Slide 21: Outlook
21 Northcoders Group PLC 2023 Full Year Results Outlook northcodersgroup.com
Slide 22: Summary & Outlook
22 Northcoders Group PLC 2023 Full Year Results Summary & Outlook • Trading in line with market expectations • Application momentum continuing into 2024 with 2,986 applications received in Q1 2023 • Well positioned with contracted bookings for FY24 of £8.9m at 31 March 23, approximately 97% of the F
Slide 23: Any Questions?
23 Northcoders Group PLC 2023 Full Year Results Thank You… Any Questions?
Slide 24: Disclaimer
24 Northcoders Group Northcoders PLC AIM IPO Proposed 2023 Full Year Results Disclaimer Disclaimer This content of information contained in these slides and the accompanying presentation comprises an institutional presentation (the Presentation) which has been prepared by and is the sole responsibil